Saturday, January 14, 2006

Lauderhill Gives Seniors Additional Homestead Exemption

The City Commission has approved unanimously, on first reading, to grant Senior Citizens an additional $25,000 Homestead Exemption on Lauderhill's Real Estate Taxes. The exemption would apply to those Lauderhill residents owning homestead realty in the city, who are over 65, and earn less approximately $22,500. Application for this exemption must be through Broward County's Property Appraisers Office. If passed on second reading, expected on January 30, the exemption will go into effect in 2007, though it may be worked out to apply toward 2006 taxes.

County documents show that presently about 800 residents, from Lauderhill's population of 66,900, qualify for this exemption. The revenue the exemption will cost the city is about $156,000, and is about 8 cents of the property tax rate. It is also possible that more within the city may qualify, increasing the estimated loss of revenue.

For those who are already approved for this exemption from Broward County taxes, the exemption will be automatically applied to Lauderhill's. For more information, contact the Broward County Property Appraiser.

No comments:

Post a Comment